Q: William, how have demands on the Corporate Audit function changed in recent years — particularly post pandemic? How has that changed your priorities?
William: First and foremost, I believe that the expectations have changed in terms of understanding not only which controls fail, but the reasons why controls fail. Understanding the why has become more important when thinking about control management as a whole. When thinking about a shift in priorities post pandemic, I would say that non-financial risk has become key. For example, we have increased focus on ESG risk, and operational risk. Now, more than ever, we understand that organizations can fail if there isn’t operational and business resilience.
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